Speculation of the monsoon performance has become the central focus of our economy so much our Prime Minister is reported to monitor reports almost real time. So why is it so central? According to industry body Assocham, a 1 per cent deficit in rains could hurt India's economic growth by 0.35 per cent. Assuming a 20% deficiency, our GDP will no doubt be deeply in the red, given that last year GDP was within the sub 4 range.
No comments:
Post a Comment